May is never a great month for legal sports betting. But states like Colorado were in a stronger position than most thanks to the Denver Nuggets, who played in every round of the NBA playoffs. But despite the extra exposure, Colorado’s betting market was unable to grow compared to April, which had the NCAA tournament and Colorado Avalanche games to its credit.
Colorado’s Department of Revenue reported that the state’s retail and online operators took in $385.2 million in May, a 7.8% monthly decline, falling below $400 million for the first time this year.
While May was the worst month in 2023, its handle, hold, and tax bill were all better than May 2022.
